Market analysis training opens door to new trade and investment for Moldova
In 2023, Moldova exported $4 billion worth of goods, a 7% drop from the year before. But exports of Export of wheat and meslin jumped 285%, and rape or colza seeds exports rose 167%. Overall, Moldova could add $2.2 billion more to its export by 2028, according to ITC’s Export Potential Map.
Good data helps countries decide what to products to sell and where to sell them. The International Trade Centre (ITC) offers a suite of tools to pull useful insights from vast amounts of data. A delegation from Moldova spent three days with ITC experts learning how to use them.
With easy access to flagship ITC tools, Moldovan officials can create effective strategies to promote trade. They also explored recently developed business solutions, including the Eastern Partnership (EaP) Trade Helpdesk and the Global Trade Helpdesk.
The EaP Trade Helpdesk provides deeper regional information, while the Global Trade Helpdesk draws on a unique multi-agency collaboration for modern trade. The programme also provides a platform so that Moldovan officials can collaborate across various ministries.
Thirteen Moldovan delegates attended the workshop from 15 to 17 July, representing the Ministry of Foreign Affairs, the Ministry of Economic Development and Digitalization, and Invest Moldova.
The programme is a collaboration with ITC, the U.S. Department of Commerce’s Commercial Law Development Program (CLDP) and the Government of the Republic of Moldova.
‘We go where there is demand for our work, to deliver results that will last. Partnering with the United States, we know there are quick wins for Moldova when it comes to producing and disseminating data on trade in services and investment, supporting transparency in trade,’ ITC Deputy Executive Director Dorothy Tembo said at the opening.
By undergoing the programme, policymakers can research crucial trade and market access information that advances their export and investment goals.
This programme is part of CLDP’s bilateral portfolio for technical assistance to the Government of Moldova. The aim is to improve the legal infrastructure for doing business in the country, which benefits the economy and its relationship with its trading partners.
Shaya Tavaf, representative of CLDP, thanked the ITC for this collaboration, noting their long-standing relationship in organizing similar trainings in different regions of the world. She highlighted the value of ITC’s market intelligence tools such as the Trade Map and the EaP Helpdesk platform in developing a robust export and investment promotion agenda that is based on data-driven insights and comprehensive analysis of global market trends. She encouraged the Moldovan delegation to utilize the tools in this training to identify lucrative markets, understand trade barriers, and tailor their strategies to optimize resources and maximize returns. The goal of this training is to enhance Moldova’s export performance and attract foreign investment, which will lead to economic growth and stability in the region.
Vladimir Cuc, Moldovan Ambassador in Geneva, welcomed the delegation and emphasized the importance of leveraging his country’s access to various resources from international organizations such as the ITC and the World Trade Organization in developing its export and investment agenda. He noted that Moldova needs to use all the opportunities in promoting export and attracting investments.
‘The ability to navigate online trade platforms and use market intelligence tools is essential for improving trade efficiency, diversifying the economy and ensuring that our policies are based on the most accurate and up-to-date information available,’ he said. ‘We are grateful for this technical assistance provided for our experts, which is an investment in the capacity of our institutions.’
About ITC Market Analysis Tools and Eastern Partnership (EaP)Trade Helpdesk
ITC offers a suite of online Market Analysis Tools and regional portal to make trade more transparent and to facilitate access to markets. They enable business actors to identify export and import opportunities and make well-informed trade decisions. Access is free for all users thanks to continued support from the European Union (EU) and funders to the ITC Trust Fund.
About the U.S. Department of Commerce’s Commercial Law Development Program (CLDP)
The Commercial Law Development Program (CLDP) is a technical assistance arm of the U.S. Department of Commerce. It aims to help developing and transitional economies improve their commercial legal frameworks to enhance economic growth and stability. CLDP provides expertise in various aspects of commercial law, including trade, investment, intellectual property rights, and judicial reform, by collaborating with host countries' governments, private sectors, and civil societies. By improving the legal and regulatory environment, CLDP helps countries attract investment, enhance their competitiveness in global markets, and ultimately contribute to economic development and stability.